Friday, 7 July 2017

EPIC RESEARCH MCX GOLD UPDATE OF 07 JULY 2017

Gold trading range for the day is 28036-28228. Gold eased as weaker-than-expected private sector payrolls data fed into a more cautious view on the pace of U.S. interest rate hikes and Treasury yields firmed. Fed’s minutes showed a lack of consensus among policymakers over the outlook for inflation and how it could impact on the future pace of interest rate increases. Several officials also wanted to announce a start to the process of reducing the Fed's large portfolio of Treasury bonds and mortgage-backed securities by the end of August.